SUBSEQUENT EVENT

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

SUBSEQUENT EVENT

SUBSEQUENT EVENT

On July 12, 2016, the Company, together with Immersion Software Ireland Limited, an Irish company and a wholly owned subsidiary of the Company, entered into an Amendment No. 4 (the “Amendment”) to Amended and Restated License Agreement (the “Agreement”) with Samsung Electronics Co., Ltd., a South Korean Corporation (“Samsung”). Pursuant to the Agreement, the parties agreed to amend Section 13.4(c) relating to the Product Life Cycle Wind-Down Rights (as defined in the Agreement) to permit Samsung to exercise the Product Life Cycle Wind-Down Rights for $19.0 million. The parties also agreed to terminate the arbitration proceedings relating to the Product Life Cycle Wind-Down Rights and to mutual releases regarding a variety of other matters. The Company also agreed not to bring any judicial, administrative or other action against Samsung relating to the Amendment or patent infringement for a period of time. The Company received a payment under this Agreement for $19.0 million in July 2016 and plans to recognize it as license revenue during the three months ended September 30, 2016.